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Solid State PLC

55%

Group overseas revenue - reflecting trans-Atlantic capability to support global customer base

18%

Compound revenue growth in last 5 years

20p

2030 adjusted EPS target

The Cavendish View

Solid State is a value-added electronics group supplying commercial, industrial and defence markets with durable components, assemblies and manufactured units for harsh environments. The company has a particularly strong position in defence markets (40% of revenue) and is delivering growth across other key verticals, with headroom for further growth following recent investments in enhanced design/test/production facilities.

ED STACEY

Research Director

Technology for demanding applications

Solid State plc (AIM: SOLI) is a leading value-added electronics group supplying industrial and defence markets with durable components, assemblies and manufactured systems for use in critical applications, with a particular emphasis on harsh operational environments. Solid State's products are found around the world, from the ocean floor and into space, ensuring the smooth operation of systems that augment our everyday lives.

The Company has a core focus on integrated computing and vision systems, high performance antenna and radio communications systems, battery power solutions, and electronic components.

Operating through three divisions (Systems, Power and Components) the Group thrives on complex engineering challenges, often requiring design-in support and component sourcing. Serving a wide range of industries, with particular skills and expertise relevant to defence, energy production, aerospace, environmental, oceanographic, industrial, robotics, medical, life sciences, and transportation, the Solid State trading brands have become synonymous with quality and reliability. The Group operates under the brands of Steatite, Solsta, Custom Power, Pacer, Active Silicon, Gateway, Durakool, Ndura, and Q-Par.

Solid State plc is headquartered in Redditch, UK, and employs over 475 people around the world. The business has seven production facilities in the UK and one in the USA. In total, including all office locations, the Group operates from 13 national and international sites.

Solid State was established in 1971 and admitted to AIM in June 1996. The Group has grown organically and by acquisition - having made three acquisitions in the last five years.

Attending from Solid State PLC

Matthew Richards

Chief Relationship Officer

Peter James

Chief Financial Officer

John Macmichael

Chief Executive Officer

Company descriptions are drawn from information published by each company and have not been independently verified by Cavendish. They are for information only, are not investment research, advice or a recommendation, and do not constitute an offer or invitation to buy or sell any security. Information is correct as at 10th September 2026 and will not be updated. Investors should refer to each company's own published announcements and accounts. Cavendish acts as adviser or broker to certain of the companies featured.

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Cavendish is a full service investment bank and trusted advisor to ambitious companies. The Company provides a range of services to both public and private companies, from equity raising in capital markets, to M&A, debt advisory and private growth capital.

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Company Reg No: 06198898

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